Business
Sharon AI to Divest 50% Interest in Texas Critical Data Centers LLC for US$70m
NEW YORK, December 23, 2025--SharonAI Holdings Inc. and its subsidiaries ("Sharon AI"), Australia’s leading Neocloud (SHAZ:OTC Markets, SHAZW:OTC Markets), today announced that it has entered into a binding term sheet (the "Term Sheet") to sell its 50% interest in Texas Critical Data Centers LLC ("TCDC") for US$70m.
About this update from Sharonai Holdings, Inc.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":300,"url":"https://media.zenfs.com/en/business-wire.com/574f2e43daf5fbf5be00c5750effac14"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/I4W7xYKQRoDa8FMnjTVvwg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTQyMDtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/574f2e43daf5fbf5be00c5750effac14","width":300,"height":300}},"lazy":false},{"type":"text","content":"NEW YORK, December 23, 2025--(BUSINESS WIRE)--SharonAI Holdings Inc. and its subsidiaries ("Sharon AI"), Australia’s leading Neocloud (SHAZ:OTC Markets, SHAZW:OTC Markets), today announced that it has entered into a binding term sheet (the "Term Sheet") to sell its 50% interest in Texas Critical Data Centers LLC ("TCDC") for US$70m.","length":364,"tagName":"p"},{"type":"text","content":"TCDC is a 50/50 joint venture with New Era Energy & Digital Inc. ("New Era") and Sharon AI’s 50% interest will be acquired by its joint venture partner, New Era.","length":175,"tagName":"p"},{"type":"text","content":"The consideration New Era will pay Sharon AI will be an aggregate of US$70m and is comprised of the following:","length":110,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"US$50m Senior Secured Convertible Promissory Note to be issued by New Era to Sharon AI, where Sharon AI has the right to convert 20% of the note into New Era common stock based on the prior 30-day VWAP based upon the due date of the Note, 30th June, 2026.","length":255,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"US$10m in Cash to be paid by New Era to Sharon AI upon the occurrence of certain events but no later than 31st March 2026.","length":122,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"US$10m in Equity to be paid by New Era to Sharon AI in shares of common stock of New Era, upon the occurrence of certain events but no later than March 31, 2026.","length":161,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":538,"olType":false},{"type":"text","content":"The sale of Sharon AI’s interest in TCDC is expected to facilitate further investment in Sharon AI’s core Neocloud operations, bringing high performance compute to market, at scale, f...